The Art of Value Investing

Based on interviews with the world's most-successful value investors,
The Art of Value Investing — by Value Investor Insight co-founders
John Heins and Whitney Tilson — offers a comprehensive set of answers
to the questions every equity money manager should have thought through
clearly before holding himself or herself out as a worthy steward of other
people's money. What market inefficiencies will I try to exploit? How will
I generate ideas? What will be my geographic focus? What analytical edge
will I hope to have? What valuation methodologies will I use? What time horizon
will I typically employ? How many stocks will I own? How specifically will I
decide to buy or sell? Will I hedge, and how? How will I keep my emotions from
getting the best of me?

Who should read The Art of Value Investing?

It is as vital a resource for the just-starting-out investor as for the
sophisticated professional one. The former will find a comprehensive guidebook
for defining a sound investment strategy from A-to-Z; the latter will find all
aspects of his or her existing strategy challenged or reconfirmed by the
provocative thinking of their most-successful peers. It also is a must-read for
any investor — institutional or individual — charged with choosing the best
managers for the money they are allocating to equities. Choosing the right
managers requires knowing all the right questions to ask as well as the answers
worthy of respect and attention — both of which are delivered in The Art of Value Investing.

For more information on The Art of Value Investing, including group sales:

“I learned the investment business largely from the work and thinking of other investors. The Art of Value Investing is a thoughtfully organized compilation of some of the best investment insights I have ever read. Read this book with care. It will be one of the highest-return investments you will ever make.”

—William A. AckmanPershing Square Capital

“An outstanding addition to the volumes written on value investing. Not only do the authors offer their own valuable insights but they have provided in one publication invaluable insights from some of the most accomplished professionals in the investment business. I would call this publication a must-read for any serious investor.”

—Leon G. CoopermanOmega Advisors

“In this treasure chest of quotes by proven money managers, it is the love of the game and the joy of meeting the challenges put forth by a very demanding business that captivated me. The lessons are like scars and they are revealed here firsthand.”

—Jeff UbbenValueAct Capital

“A must-read for any serious investor. John and Whitney have produced a veritable bible that reveals the secrets of some of the greatest contemporary investment minds in the world.”

—Jonathon S. Jacobson
Highfields Capital Management

“There's hard-won wisdom on every page from a who's who of value investors. If you want to understand the thinking behind their long-term success, The Art of Value Investing will be valuable reading.”

—David Herro
Harris Associates

“John Heins and Whitney Tilson have put together an incredibly well-compiled set of thoughts, many from my favorite peers, on every important topic for investors.”

—Staley Cates
Southeastern Asset Management

“I often judge a book by how many times I get my highlighter out and dog-ear pages. On that metric, this book is wonderful — simply packed with insight from some of the best long-term investors. Everyone will learn something from this book.”